v3.26.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2026
Related Party Transactions [Abstract]  
Related Party Transactions
15. Related Party Transactions
A summary of the Company’s related party transactions during the nine months ended September 30, 2026 and 2025 is presented below:
Amount Due to Related Party as of
Total Payments in the Nine Months Ended September 30,
September 30,
December 31,
Nature of Relationship
2026
2025
2026
2025
Name
Description of the Transactions
(in thousands)
Ursa Space Systems
Strategic Partner
The Chairman of the Company’s board of directors, Will Porteous, is also an investor and member of the board of directors of Ursa Space Systems. The Company has a non-cancelable operational commitment with Ursa Space Systems.
$
481 
375 
$
11 
$
— 
Thales Alenia Space
Shareholder
Design, development and manufacture of telescopes.
7,497 
4,808 
96 
— 
Seahawk
Subsidiary of Thales Alenia Space
In 2019, the Company raised and converted $18.4 million from prior debt into new, outstanding debt and issued 13.5 million warrants to purchase Legacy BlackSky common stock. In July 2025, the Company repaid all debt outstanding and accrued interest to Seahawk.
— 
28,101 
— 
— 
Intelsat Jackson Holdings, S.A. ("Intelsat"), which is now part of SES
Former debt Issuer
In 2019, the Company entered into a term loan facility for $50.0 million and issued 20.2 million warrants to Intelsat to purchase Legacy BlackSky common stock. In July 2025, the Company repaid all debt outstanding and accrued interest to Intelsat.
N/A
76,391 
N/A
N/A
The Company recorded revenue from related parties of $1.5 million and $1.8 million for the three and nine months ended September 30, 2026, respectively, and $0.5 million and $11.2 million for the three and nine months ended September 30, 2025, respectively. As of September 30, 2026 and December 31, 2025, the Company had $1.5 million and $3.9 million, respectively, of contract assets with related parties. As of September 30, 2026, the amounts invoiced by the Company and due from related parties were not significant; as of December 31, 2025, the amounts invoiced by the Company and due from related parties were $9.6 million.
In July 2025, the Company repaid the term loan facility from related parties in its entirety plus accrued interest in the amount of $100.2 million. Prior to repaying the loans, interest accrued and was due semi-annually to Intelsat and Seahawk. The Company made interest payments of $2.7 million and $3.8 million during the three and nine months ended September 30, 2025, respectively. The Company did not make any interest payments to related parties during the three and nine months ended September 30, 2026.